Posted by: Babu Suresh | March 19, 2009

Spot-Gold-Analysis-19-Mar-09

Spot-Gold-1H-4H-ChartsSpot_Gold_1H_4H_Chart_19-03-09

To recall my 13th Mar.09 analysis, I had mentioned, $935 was an important nearby resistance and $909 was my support.

The way gold was treated yesterday, one would tend to feel whether there was any hidden agenda involved, the one similar to the Bear Sterns!!!

I don’t think Fed’s decision to buy back treasuries alone would have triggered such an amazing $60 reversal in a matter of minutes, that too after the main market closed. Let’s wait and see who is the next victim.

In the event of any major short covering, today Gold can test $958, failing which $920 should offer good support.

Healthy And Wealthy Trading

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: